Worli emerges as new luxury destination in Mumbai

Worli has signalled its emergence as a prime residential destination, with a number of big-ticket realty transactions taking place here, says a report released by JLL India.Nauzer Bharucha | TNN | June 21, 2016, 16:00 IST

MUMBAI: Worli is the new luxury destination for Mumbai's ultra-HNIs and celebrities. Mumbai has for long been home to India's Who's Who' with areas like Nepean Sea Road, Malabar Hill, Walkeshwar, Colaba and Cuffe Parade dominating the addresses for tony old money here.

In recent years, however, Worli has signalled its emergence as a prime residential destination, with a number of big-ticket realty transactions taking place here, says a report released by JLL India on Tuesday.

Cricketers like Rohit Sharma, Yuvraj Singh and Virat Kohli, Bollywood actors like Abhishek Bachchan and Akshay Kumar, business tycoons like Babasaheb Kalyani (Chairman of Bharat Forge), Rizwan Koita (CEO of CitiusTech), Nandan Nilekani, Narayana Murthy, Ajay Piramal, Siddharth Yog (Chairman of Xander Group) and Anil Agarwal (Sterlite Group) have either invested in or moved to Worli. "This precinct has created an independent identity rivalling the traditionally popular prime south-Mumbai residential clusters," it said.

Ashutosh Limaye, National Director – Research, JLL India, said, "These few big-ticket transactions are indicative to the social status of buyers and the budgets they are allocating towards making investment or even end-use purchases in Worli."